Lower Mainland real estate magnate Bob Rennie says Vancouver's housing affordability crisis comes down to one key factor: a lack of supply. "We live in a city where we can never build another single family home again," Rennie told Early Edition host Rick Cluff. Rennie said statistics for the city of Vancouver are often misread as statistics that apply to the whole region. Rennie said this resistance needs to end if Vancouver wants home ownership to be even remotely possible for anyone beyond the super-rich. According to Rennie, condos are up to 50 per cent cheaper in suburbs such as Surrey and Coquitlam, compared to downtown Vancouver.

Source: CBC News June 02, 2016 16:36 UTC